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Yarmouth & the Eastern Coast Regeneration
LaurenCR posted a topic in Location Specific AdviceLooking for any advice/opinions about investing in Great Yarmouth and the coastal areas around it such as Gorleston- has anyone done this, and if so, what areas would you recommend, and how are you finding the rental market atm? This will be my 2nd BTL, my first is a one bed flat in Liverpool purchased through Property Hub. I'm a Norwich based investor, have looked into purchasing a BTL in Norwich and the returns just aren't as good as some coastal areas such as Yarmouth. As GY is known as a deprived area, I am of course concerned about the capital growth there, but there seems to be a lot of investment and regeneration happening in GY at the moment. This makes me wonder, is GY an up and coming town? Is it realistic to think these investments will result in a booming seaside town within the next 5-10 years, or would I be better off investing in the less deprived areas surrounding it such as Gorleston/ Bradwell etc? The regeneration projects currently planned for GY; A £120m bridge - the third river crossing - will link the town's marine and offshore industries with the A47 when it opens in 2023 The borough council's replacement £26m Golden Mile "anchor attraction", the Marina Centre leisure complex, is due to open next summer A £20.1m Town Funds grant will help create jobs and plans to turn the empty Palmers department store into a learning hub and university campus alongside the relocated Central Library Work should be completed in summer 2022 on an £18m operations and maintenance campus for the offshore renewables sector A £13.7m Future High Streets Fund will pay for the library move as well as a new heritage centre, more leisure venues and turn empty historic buildings into homes in the town centre The historic glass Winter Gardens has won a £10m lottery grant - part of a £16m restoration - and is due to reopen in 2026 as a heritage, arts and education venue The Market Place is undergoing a £4.6m revamp to help attract more shoppers A four-year £1.9m scheme to save the town centre's historic and at-risk buildings is also under way A new 'fire festival' this autumn has just been revealed in a bid to make the resort a year-round destination A London Eye-style wheel (pictured) is on a free summer loan, offering views for up to 10 miles Plans are under way to secure major festival slots next year for a film, titled Provisional Figures, shot in Great Yarmouth featuring Nuno Lopes
Regeneration Ripple Effect
alexixwb posted a topic in General property discussionHi Guys, I'm looking for your thoughts on the regeneration 'ripple effect'. Essentially I'm deeply impressed with the regeneration of Kings Cross: the presence of UAL, Google's imminent arrival, possibility of crossrail 2, Fortnum & Masons huge retail success, Kings Pace Arts venue, the fabulous architecture - old and new, (my list of reasons why this regeneration is something special is endless). However, in terms of investing in the shadow of what I believe will be a huge success story, are neighbourhoods that are already incredibly expensive and out of my budget like Barnsbury (Islington), Bloomsbury, Regents Canal etc. So, my question from the left-field is how far could the ripple go? Using my none scientific method I've followed the major arteries and transport hubs to the closest areas representing value, and this brings me to the N7 (Holloway). In particular the area between Caledonian Road and York Way. In terms of convenience to Kings Cross I've narrowed the area down even further to the roads falling within the square made up by Caledoanian Road, Holloway Road, Hilmarton Road and Parkhust Road (with Camden Road running through the middle). Speaking to estate agents local to Camden suggests that they already sell those priced out of gentrified Camden into this particular part of Holloway (which i believe is in the borough of Islington), so it seems it has some appeal to people priced out but needing easy access to their preferred neighbourhood. The housing stock seems to be excellent too, from huge and pretty Victorian villas (again, out of my price range), to very large conversion flats, to very smart looking and well kept low rise ex-local authority properties with young professionals swanning in and out...... My real question is, is this area too far away to experience any ripple from Kings Cross? In danger of suffering from analysis-paralysis.